There was no fresh news about Vinco Ventures Inc (NASDAQ:BBIG) on Tuesday but the company’s stock suffered from a selloff nonetheless and went down by as much as 5%.
Trading Data
On Tuesday, BBIG stock moved down 5.17% to $2.75 with more than 30.95 million shares, compared to its average volume of 23.60 million shares. The stock moved within a range of $2.6800 – 3.0083 after opening trade at $2.97.
Recent News
However, in this context, it may be a good move from investors to consider taking a look at the announcement made by the company back on May 5. The company announced that it had set the record date of May 18, 2022 when the dividends with regards to the shares in Cryptyde Inc are going to be distributed to shareholders in Vinco Ventures. The move to distribute the dividends is to bring about the formal separation of Cryptyde and Vinco as two distinct entities.
Anyone who holds shares in Vinco Ventures as of May 18, 2022 are going to be entitled to the aforementioned dividends. The dividends is going to be paid out in the form of Cryptyde stock.
For each block of 10 Vinco shares that a customer holds, 1 Cryptyde share is going to be awarded as dividend. The dividends are going to be distributed to the Vinco shareholders on May 27, 2022. It now remains to be seen if the Vinco stock can make a recovery today.
Technical Data
BBIG stock is trading above the 20-Day and 50-Day Moving averages of $2.66 and $2.63 respectively. However, the stock is trading below the 200-Day moving average of $3.92.
